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cells of the economy, not just the u.s., but the global economy. a lot of news, and assault team coverage with nicole petallides. once again standing by the new york stock exchange. a big sell-off. phil flynn at the cme tracking down the commodities, especially metals. jo ling kent is here with a very troubling story about china that we are following, but first to you, nicole. your headline please. >> reporter: to the big deal here is watching the volatility. we had a lot of 200. swings in the last 21 days since ben bernanke and his testimony may 22nd. half of those, ten of the 21 actually had 200. swings. the volatility is here and today you are obviously seeing a bigger move unusual. 350 points to the downside. cheryl: and an unusual move. that is how you would characterize this. >> reporter: absolutely an unusual move. essene the volatility of 10200, but not 350. cheryl: you will get back to you in a moment. phil flynn at the cme. >> reporter: it is a metals meltdown. what temperature doubles milton mack probably when the fed starts talking about a brief. the dollar is soaring
? this global economy. certainly, ups is a definite no whether to where we are headed. right now, checking out stocks. nicole petallides on the floor of the new york stock exchange. nicole: the dow jones industrials down about 28 points. not to off the unchanged line. there is this wait and see mode today. the last trading days have been up more than 100 trading points. the volatility is back. it has been the name of the game since may 22. we heard that tapering maybe in the future. right now everyone is just waiting to see what the fed really has to say. the language is so key here. everyone is waiting to see. right now you can see that the dow is down just slightly. lori: you summed it up beautifully for us. we will get one of the most federal reserve statements ever and less than an hour. will we get any clue as to when tapering will begin? thank you so much for joining us. what are you expecting to hear from the fed today? >> i expect no change. the statement is key. i will look for the labor market. is this the best that we are going to get? if, yes, i expect the taper to put off. lori: o
. the difference this time around, the economy is better, housing is better, the labor market is better. this time around, i think it is a little different, a little bit better fundamental backdrop. tracy: let's talk about how we can position our bonds for it. >> it is hard to know exactly where this will settle out. the move of two to 40 has been pretty dramatic. we may have already covered a lot of the ground we will cover. on the equity side, i think you have to be overweighted in the u.s. still. i like the domestics of the goals. we are the only major market in the world that is growing and i think stocks here are still reasonably priced. tracy: i know you also like tech. >> the problem with tech is you have to be a little discriminating because as a factor, it derives more of its product overseas than ever. the tech sector, in my view, again, is pretty reasonably valued. tracy: we have to talk about commodities. gold is down. event gold typically down this time of year? >> i would not be getting into gold. i think gold is being washed out as a result of the fed's projections. the rest of the
what he said? valuations are attractive still. businesses are doing well. the economy is strengthening. get this. he says even with $20 billion, he opportunity have enough money to take advantage of all the opportunities here. >> 20. it's not all his. >> he says he's not looking at this point like, look, maybe the rate of the market has slowed down. we're not talking about three year doubles at this point. he says for his funds he's looking more five or six years for doubling. maybe nine or ten for the market. still talking about a very strong market and a place he sees great opportunity. >> these are times you try to keep your cool. >> got to have some powder. got to have dry powder. >> i wish we had all the guys looking for -- if they were to come on and say no, no, no, i'd feel better. they're never able to pull the trigger. want to go overseas? >> i think we should. for a moment. >> take us there. >> i hear this whole thing in china is kind of just not just ben bernanke creating some problems. let's talk about trading in asia and europe today. ross westgate standing by in london. f
this year. if they remain broadly aligned with our current expectations for the economy, we will continue to reduce the pace of purchases in measured steps through the first half of next year ending purchases around mid year. >> the bonds finished in the red as the blue chip index showed its seventh straight move. all the main s&p sectors closed lowers. the worst performers were defensive sectors. telecons. this is what people had been warning us, look out for those stocks that act more like bonds. that's exactly what happened yesterday. the yield on the ten year treasury, it hit a 15-month high if you take a look at that. 2.426%. this is a concerning move. this morning the dow futures are indicated down triple digits once again. this is on top of a 200 point plus drop yesterday. it doesn't look like there's going to be a quick bounce back, at least not this morning. >> we have a number of newsmakers to help us make our way through all of this, get through these questions raised by the fed bank. including alfred broaddus and former minneapolis fed. we have john stumpf. cisco is going to h
economies in terms of -- because they need europe to be able to take their stuff. watch for china -- i don't know who's really running that country, but i can tell you this, their deceleration in economics is just incredible. it's not bringing us down. >> china may go down below 7%, 6% growth this err year. we are right now the tallest building in elmira, new york. >> it's the shung kamao bank. >> how do you know about elmira, new york? >> i come to play. >> you do come to play. we may be the tallest building in elmira, new york, but people keep buying the dollar. what are you going to do? go to europe? go to china? they're all train wrecks wait to go happen. >> you can't feed china. that's a big issue. 700,000 recespiratory deaths la year. let's go to john meacham. speaking of smoking, he smokes way too much. john, you look at europe, the g-8, they were all lecturing president obama three years ago. sarkozy, where is he now? who knows? he's probably staying at your place in the south of france. >> oh, no, unh-unh. >> but united states is in this strange position of just sort of crawling a
economy, then you're going to be shocked by the report "rolling stone" has for us tonight. that's coming up. also a shocking turn of events on the house floor as the house speaker brings crucial legislation to the floor and watches it go down in flames. i'll tell you why what's bad for john boehner is good for the country. >>> plus bailouts of struggling casinos? it is also something that is totally happening. we begin tonight with a truly rare bit of genuine progress from congress. excellent news that nonetheless has me seething with anger. here's what's happening that's great news and infuriating. making sure 11 million immigrants are given a road to citizenship is trying to pass a bill by a huge margin in the senate. they are called the gang of eight and the reason they think they need the huge margin victory is to put pressure on house speaker john boehner to bring the legislation to the house floor even though it it will almost certainly not have the support of a majority of house republicans. so that's the game plan. the goal is get 70 votes in the senate, a goal that has seemed, w
many financial stocks particularly those exposed to the domestic economy. david: okay. >> the u.s. is well-capitalized -- david: i have to put you on pause there when you're on financials. we'll take issue with you. we have earnings coming in from oracle. jo ling kent what do the numbers look like? >> dave, we have an 87 cents per share eps which is exactly as expected. $10.95 billion which is a miss on revenue. breaking down numbers a little bit, we see a quarterly revenue of $849 million. what is interesting, new software license revenues were up 1.4% to 4 billion. they were expecting to see this go from, between 1 and 11% that is certainly on the low end. that is a very important area for oracle to grow especially if other companies get into this market. david: i want to go back to todd. we have a lot of news to cover i don't want to focus on any one stock but does this tell you anything about oracle? >> this is common throughout the entire earnings season. miss on the top line. that is the whole story. oracle looks pretty good chartwise. with the current market conditions it
market in the end we have to ask ourselves is this economy ready. therthey see bernanke stepping k saying it will not happen immediately but it is going tt happen. it has the investors very concerned. charles: and economy bumping along at 2% per year, is it worth it? >> we should not lose sight of the fact ben bernanke, is reflected the most basic level the economy is improving. we are not facing the crisis we have faced for so many years now. reacting to what the meanings of these things are, but i choose to see it as the cup half full, getting the worst behind us. which is very encouraging news. charles: at them, what do you make the idea of the stock market should come down hard and fast what is supposedly good news. >> everyone who is in the market has to choose what it is they are interested in as an investor please send i am an investor. i don't care what happens today or yesterday with my personal investment in the way i approach the market, that is somebody else's problem. those people i am not saying they'rr using poor judgment or acting irrationally, i choose to understand that
the reason the fed would taper. the reason the fed tapers is that the economy is markettedly better or marginally better. the fact is it's seen as a negative somehow. we got better than expected housing data today. that's not holding on to the gains. the narcotic association -- national association of home builders index, right hand of the screen, rose from 52 to 42 in may, the highest since 2006. today, the engines roar, kicking off the start of the paris air show, the show where the top airlines and all the big makers show us and show their wear. is shares of boeing like what they saw today. shares of boeing at a new high after a ceo had confidence in the brand new batteries they reinstalled in the dream liner, and it received an order for ten 787 10x. that's good news for boeing. nicole on the floor of the new york stock exchange, the spy case, and silicon valley opens the books to the government because the government asked for information. we'll get more on that story. and we have a cautionary tale of china being the spoiler on detroit's comeback. yes, detroit's auto world come
, given the fact that we are becoming energies efficient with fracking? our economy is growing, the dow is up today 161 points, can we ignore the world events and continue to go on with the kind of relationships we used to need? >> no. i think it is more important that america become a player. we still have so many other issues. as the world is getting smaller, america must exert their influence in ways that were unforeseen 20 or 30 years ago. we have to be engaged. if we take an internal role of we are not needed as we were, i think that we do it at our peril. lori: a lot of economists are very concerned about this currency war that is underway. you have countries at the g8 representing $7 trillion in global economic wealth. do you think that that topic will come up? how do you realistically have a discussion about a trade deal if you do not talk about what is really going on. >> there is no question about it. if we will have a trade agreement, it has to be free, it has to be fair, and it has to be equitable to all parties. if one party has an upper hand, it is honored as a breach. com
'll give the economy before it decides to reduce the monthly asset purchases. to me, the market has kind of adjusted its own expectations both for the worse and better, much more than the fed's message has changed. so i feel like it's really a lot of suspension been drained out of this meeting. by the way, the market itself, the treasury yields have calmed down. >> all right. amy, let me ask you in terms of allocating capital. where are you seeing the flow right now in terms of putting money to work? where is the conviction out there? what sector? >> well, hi, maria. from an options perspective, it's pretty interesting, because i think a lot of folks out there would say the fed's probably not going to say too much tomorrow. it may delay things out later. our own house view is for an october tapering session. however, from the options point of view, you've actually seen short-term term structure come up. so to translate that, that's basically saying near term, more volatility is expected relative to the outer terms. so the options market is actually expecting something for tomorrow, and y
it is going to go higher? >> dramatically over forecasting the economy. fourteen years, the last one ended and there's never been 14 years like that. we are going to have wage growth of 5.3% a year. so if you adjust real world super economics, you're looking at this. neil: sometimes you cannot not so sober and surprises. like 14 years ago you could have argued this. you could have pleasant surprises. neil: what you think about this? only bring you an internet boom? >> well, edge was a technological development and a great thing. neil: we are not always sold by3 this. >> the fed clearly is. we have a decade packed with zero interest rates and we are not always intervening in this way. >> well, they ought to stop right now. but the market is totally hooked on this monetary heroism. then they will begin to taper back or reduce the 85 billion. neil: so they should resist the hissy fit and moveon? >> yes, that is what they have been unwilling to do ever since greenspan punted in 1998 at the long-term capital time. time after time they have been doing the same thing. neil: how much higher do you
economy wise that could come to fruition in the next couple of months. however, i think right now we have overcome it. in the next couple of days we are going to get back above $95 in crude oil. >> all rightquickly on japan. >> you know, everyone is talking about this right now. quantitative easing is the big thing. there seems to be a disconnect between china and japan. i don't have any clear-cut answer. liz: everyone needs to watch out. economics may not be what they seem. thank you for joining us. have a good weekend, guys. investors are switching away from oracle stock. this after the company's earnings report failed to excite anyone here. >> that is right, there is a lack of quarterly numbers that came out. revenue was a disappointment. see the stock isn't down 9% and it has been sitting there all day long. it sat there all day. what is also big news is we know the nasdaq and the new york stock exchange and anybody who knows these two know that they battle it out. they battle it out. oracle will be the largest to leave the nasdaq and come over to the new york stock exchange. that was
would need to see a more sustainable real improvement in the economy before we saw any reduction in his quantitative easing. if we look at recent economic data, ism manufacturing, with a reading below 50 to me, that's not necessarily an improvement in the overall economy. i think we can look through the announcement tomorrow. it will be hard. there will be some volatility. by and large i think it is more an issue of 2014. liz: but, edward, is it fair to say you wouldn't necessarily change your investment strategy on what the fed will or won't do? >> that's correct. we're a bottom-up stock-pickers. we're looking at individual securities that kind of have a technical profile that is attractive to us, a fundamental profile that is attractive to us. we may take advantage of some of the short term volatility trimming winners and taking advantage of some of the weakness. by and large we're looking over next 12 to eight teen months and think this is another ssdeshow. david: let me follow up on that and what liz was saying. what if bernanke says what the market really doesn't want to hear? the
about cutting back on the fed stimulus program which basically has been pumping money into the economy to keep interest rates low. that's helped prices for a lot of things, real estate, stocks included. we're now on round three of what i call, you know, pumping money into the economy. they call it quantitative easing. with their noses in the air. each of the new rounds has caused stocks to move higher. starting later this year, the fed will take the drugs away and may cut the addicts off entirely next year. ben white, chief economic correspondent for politico. ben, thank you. so people -- he comes out and says things are getting better. >> and the stock market tanks. >> you say what's wrong with these crazy people on wall street? americans say -- 44% of americans say they're worse off than they were a year ago. >> i think what it means for people who have a house who might want to refinance it, they should probably do it, because interest rates will go higher if the fed stops doing all this drug giving to the economy. so if you're going to refinance, do it now. if you're looking at a n
about the underlying economy. >> it's the economico outlook. >> you don't think he'll use the word? >> i don't think he'll use the letter. >> people will ask questions. >> but as long as -- as long as it doesn't start with a t. if there is a t in the world somewhere, he may use it. >> we could have a drinking game. first question has to be about tapering. will use the word taper. >> either tape ever or your ter. >> i was at a party with a drinking game, but it was with lemonade. makes no sense. they're practicing for the day when -- legmonade, you'll just get sick. >> that's okay. learn a lesson. >> i know. >> let's take a look at europe. again, futures are indicated higher and that may be because the expectation is that the fed will in fact slightly lower their economic outlook. if that he another case, you would expect they would not be pulling qe anytime soon. but right now the market is barely bunching in europe. in asia, you can see the nikkei was up about 1.8%. so volatility continues there. hang seng down by just over 1%. oil prices right now are indicated up about 50 cents. wti i
.s. economy, but there would be a road map for when they would stop doing that. the u.s. economy was strong enough to get on its own two feet and unemployment rate got back 7%. take their foot off the accelerator is the way the fed chief put it. overnight, world markets started to react saying all the markets that had benefitted from the big flood of fed money into the world economy and all markets having a pull back to what would be the reality when the fed is not in the game. you see the dow down about 69 points right now and down 72. we'll continue to watch. we have seen triple-digit declines the last six or seven days in a row, carol. >> then it goes right back up. such a weird thing. >> very volatile and i'll let you know how this is playing out and whether they can absorb it all right today. >> thank you, christine. >>> other stories we're covering this morning. senate negotiators are expected to announce a deal today on an immigration reform bill that would increase border security as cnn first reported yesterday. the plan would double the number of patrol officers from the current l
to back off of this government program that has helped push the economy along and that has sent the markets in a tail spin. he used the word "taper", he's going to taper the program. what does that mean? well, imagine the economy to be like a kid trying to ride a bicycle after a spill, trying to get back on balance. the fed has been helping out to steady and push him along with about $85 billion a month in stimulus. ben bernanke has been looking at numbers saying housing is up almost 7% in may, unemployment 7.6%, not getting better but not getting worse, gdp, 2.6%, all of that he's saying is that all of this that is good enough that the government can start backing off and let the economy stand on its own a little more. i'll be there. if it gets in trouble, i'll step in and save it, it will be okay, there is what we should do. so why are the markets so troubled? partially because they're looking at the same numbers and they are not as confident. their sense is that if you step away from this economy right now and try to let it ride on its own, in fact you could have a lot of wob
with a market massacre. ben bernanke saying if the economy continues to improve he will cut back on his 85 billion-dollar a month bond buying program by the end of the year. that reality terrifying wall street. because the market may have to stand on its own two feet. combine that with a massive credit crutch in china and u.s. markets got absolutely slaughtered today. the dow closing down a staggering 353 points. look at that. 2.3% there. if you control down on this market massacre, christian dorsey from the economic policy institute. sam stovall, chief equity strategist at s&p capital iq. gentlemen, thanks so much for joining us. sam, shouldn't have been that big after deal. all ben bernanke said, if the economy continues to improve we may taper back on the buying by the end of the year. not that they will stop it all together. not that they will sell what they already have. look at the big gyrations we've seen. doesn't that tell you how ugly and messy this does point -- dismount actually will be? >> it tells me more, melissa, we're end of june which is quarter ending month a lot of portf
into the economy to prop it up to prevent a depression is going to start drying up. peter kenny is the chief market strategist at knight capital group. i guess the question is two days nearly 4%. makes people afraid. and it should make people afraid t. question is, is this temporary or something that could get worse and worse? >> it's a real wake-up call. i do think this is a short-term trend. given that, we are in a period of volatility since chairman bernanke did mention tapering back in may, which is where we had our highs. >> which means i will stop giving you this free market. >> meaning we have seen the most volatility all year. sideways to lower, the last two days significantly lower. there is probably some work to do on the downside in the near term. this is something that's needed. a pullback is needed. we need to get back to more compelling evaluations in the index stocks generally speaking. so it's not as if this is completely destructive. it's a question of a longer period of trend. >> it's pruning. >> that's a great example. >> when you look at five years ago when this whole, they call
of money they're pumping into the economy each month. >> we will ease the pressure on the accelerator by gradually reducing the pace of purchases. >> reporter: the second, overnight thursday, bad news from china. manufacturing production fell for the first time in eight months. a sign that one of the world's most powerful economies isn't growing as fast as it had been. the pros on wall street say this was bound to happen after months of gains and record highs. and in fact, the fed pulling back might be a good sign that the economy's getting better. >> there is no fear. there is no panic that's going on. but i think we do know that it's going to be a nice slow, orderly process to see if our economy can stand on its own again. >> reporter: that doesn't make yesterday any prettier, and stocks were only part of it. a metal meltdown. 2 1/2-year lows for gold and silver. gold, the shelter from the storm in the recession, is dropping like a rock, losing a quarter of its value to far this year. don't be too afraid to peek at your 401(k). even after yesterday's dramatic drop, the dow was up mo
. >> and if we can be freed from some of the regulatory burdens, this economy could take off, and so will the stock market. >> thank you, sir. join us tomorrow. "squawk on the street" begins right now. >>> good morning and welcome the "squawk on the street." i'm david faber with jim cramer and scott right here. carl quintanilla is off this morning, and afterf a 100-point rally, the fed is under the microscope as it begins, you know it, a two-day meeting. the futures are holding onto the gains and consumer prices up one point in may, and housing starts rose above street forecast, but we are looking for a higher open. >> yes. >> and a actually more defensive. looking at europe, a mixed picture, and you can see it on the continent there, but a lot of green on the map. start with our own road map starting with day one of the fed meeting as the market swings over almost any mention on the word of the word taper. president obama hints that ben bernanke could be on his way out. scott? >> and david, here is sony activist dan loeb asking for a second time to spin off the entertainment arm. th
/11 to the american economy? trillions of dollars. think about the lies that have been saved. they will only tell us about a couple of those. they have to be careful about sources and methods. still needs oversight. congress should be looking at it closely. i am pretty comfortable with what they have laid out so far. connell: speaking of september 11 and attacks on our financial industry, general alexander have the following quote talking about rather being here debating this point in trying to explain how we failed to prevent another 9/11. do you think that these programs , you know, the internet surveillance or the phone collection, in terms of records, do you think that that would have prevented september 11? >> they did say something to this effect. he said they may have been able to track one of the 9/11 hijackers if they had this program before 9/11. that is if i heard it correctly. that tells you something. who knows where we would be today in our history if they would have been able to do that. connell: supporters of the nsa leaker say he has been able to prompt or develop this discussion th
that they are not getting what they deserve from the government of the world's sixth largest economy. shepard? >> shepard: steve, these nationwide protests are reportedly some of the biggest demonstrations since the end of brazil's dictatorship back in '85. the country's military regime lasted for more than two decades back then. during that time, violent clashes often broke out between protesters and police. really not sense. authorities in turkey have banned large gatherings all together after weeks of violent antigovernment protests in a key city. so it's come to this. one man trying a peaceful solo protest and there he is. the guy on the right in the white shirt, stood alone for many hours last night. at istanbul's taksim square. stood there and stared. stared aportrait founded turkey as a secular state 90 years ago. many claim turkey's current leaders are forcing islamic agenda on them as word of this standing guy got out. several others stood just like him in different parts of the country. turkish officials say they will take no action as long as these silent protests cause nobody any harm. here a
it a turn around in a sign maybe the global economy is turning ? >> i do not agree. i think when revenues drop, there are all sorts of ways that customers as we've seen, that can impact the bottom line, by one, just being mere efficient. -- more efficient, but what a revenue drops with a fedex or ups that is a sign of the economy not only flat lining but continuing to slide down, that is why i think that we're going to be in trouble. you know come next few months. neil: dave, top line thing begins top out, watc watch out. >> a good news-bad news thing with them, revenue was up a little bit but not to expectations, and on that front, i would say, yeah that is not a good signal about the economy. not a big beats. neil: but. down a broad. -- abroad. >> it was down. neil: speaking of a quagmire not getting any less qaagi e . >> you are right. >> here is the thing. using technology to drive costs out. the math they continue to do that, that is a good sign because everything needs to do that. neil: all right, if at first you don't succeed find a better way to get them to spend, walmart all but
the economy's bad it increases, when the economy's good, it goes down. the reason we don't have mass starvation is this program is helping tens of millions of american families survive. the facts are, before the 1970s, when we did have the program, we had third world style malnutrition. these programs almost entirely ended hunger in the 1970s. >> that used to be a bipartisan understanding. bob doll is one of the founding fathers of this program. and it used to be a way to help farmers and families. there's a business case for continuing these programs. the biggest recipients of the money. it's all cycled back into the economy. >> no one's saving -- companies like kraft that make the boxed food that's inexpensive to buy, companies like walmart, supermarkets, all plow in the money from these food stamp programs. we also had this interconnectedness of our safety net programs that's going to make this a double problem. feeding america that operates lots of food banks around the country sent out an alert saying, you have kids who get free and reduced lunch because their families are eligi
, the fight that affects millions of people and could reshape the economy and job market and could reshape america's border with mexico but on top of that is a battle in many ways for the future of the republican party, immigration reform. today in the senate offered an amendment calling for 20,000 more border agents and completing a fence to beef up republican supports if the larger reform bill passes the senate, republicans in the house will support it. that, however, is a big if. dana bash is here to explain why. dana, it goes back to border security for republicans. does it look like this bill, at least as it now stands, is tough enough on boarder security to get republican support? >> reporter: it's tougher and looks like it could. it's not a question in the senate whether or not immigration reform will pass but by a lot of votes and talking to republican sources, they think that this beefing up the border security will bring maybe ten to 12 republican senators near it that wouldn't before hand. supporters say they need maybe up to 70 votes in the senate to give this issue momentum he
by the french and germans? >> on the economy it's pretty good. but there's a whole other part of discomfort, if you will, with some european leaders and it more has to do -- their reaction to president obama is just like any other politician's reaction to a politician that may not be as popular as they once were. president obama, the nsa things do not play well over here. there has been a frustration by some on the left in europe that president obama hasn't addressed the issue of climate change more aggressively. that's always been a much more important issue to europeans than it ever has been in the united states. and you sort of take all of that into account and so there certainly is -- you know, the shine has worn off. two years ago when president obama would come over here, you know, you know, figuratively throwing rose pe petals at his feet. he still has a huge audience a few hours ago in belfast for a speech he gave that was addressing northern ireland youth. he's going to get a huge number of people at the brandenburg gate when he makes that speech on the 50th anniversary of jfk spee
to come up with any kind of measures that would help to support the economy, and so interest rates are artificially low. they did not hands. they told us. we start our tapering program in the latter part of this year and end by next year. basically we are just getting back to a non stimulus environments. gerri: back to normal, but people feel like it is now back to normal. it is something new. how'd you advise people with low will be a very volatile summer and then fall? >> number one, you don't want to be our own psychiatrist or your own financial planner unless you're one. i think that the other thing is to say, look, now getting to sleep and not having nightmares or waking up in the middle of the night should be in a you have conveyed to your financial timor adviser the effect you want to be conservative, preserve your position. you don't want to be subject to bipolar disorder which is what happens when you sever reality and that your marriage flow from high to move to five high to low night. you're going to come down to the ground level. think people should be telling their fin
to it the floor because job market is stagnant, the economy is hurting, and they're debating rape and abortion. and look, charlie dent is a good guy. but the democratic argument against charlie dent is sure charlie dent is a good guy. but he is going to vote for john boehner for speaker, and they'll control the agenda. so if you get rid of charlie dent, there is a chance we can get a new speaker who won't be bringing things like these. so the republicans don't get it. they should listen to the few people left like charlie dent. >> you know, joan, when you look at the fact that as the governor just quoted charlie dent, this bill that has gone to the floor, they're trying to pull back the sponsor because of his outrageous statement. but they're still dealing with the bill and having congresswoman blackburn manage this bill on the floor. >> right. they've decided that they're going to put a woman's face on the bill. and congresswoman blackburn is no friend of women, reverend al. she recently really embarrassed herself by saying that equal pay is not an issue for most women. >> wait a minute, the
economy, and it's happening every day. it's a perfect example of the waste, fraud and abuse going on because of bloated government. >> what's your reaction? >> i can't believe you guys are making this example. first of all, danine is talking about an underground economy, you're talking about it coming out of the taxpayer's pocket. both wrong. this is a universal fee charged everyone with a cell phone. let me finish. they finish, they have this charge because of access for people in poor areas of the country. you have to be in poverty to qualify for one of these phones. you get 90 minutes a month so an employer has a contact number. these are legitimate reasons. >> there are 10 million people who are getting these phones. >> i'm sorry we have that many poor people. it wasn't started. people call it obama phone, it started under ronald reagan. >> it started under them, it was wrong now, it's wrong now. >> it's not an example of an entitlement president, welfare excess, it's a good program started by a republican president that had some fraud and has to be addressed. >> it's not the
, plus the anemic economy have undermined people's confidence in his credibility and integrity. 45 approve, 57 disapprove. the lowest, 34/64, the previous low was in august of 2011. strong leader, 52-48. it's the lowest since january 2012. and the lowest of his entire term was 48-52. managing the government effective i lrks 47-53, the lowest since september 2011, and not a typical politician, lowest in office. when he came into office, it was 63-36. >> i suppose his trip overseas, he had to go to the g-8, it does have the appearance of getting out of dodge. he doesn't realize all these numbers are sinking in, he needs to talk to us, he needs to come back to talk to the american people. bad timing, though. >> the g-8 from his perspective was at an unfortunate time. this has all been happening, and he squandered the weeks leading into this, we've known about the -- some of these things for going on three and four and five weeks, benghazi obviously longer than that, the irs scandal, the ap records, the leaks and these things have been out there for anywhere from a week to ten days to
to have economies that are working for all people, not just those at the very top. >> today we got many comments from our facebook community about the president's big speech in berlin. where he spoke from the brandenburg gate just as president kennedy did some 50 years ago this month. doug says thank god for giving us leaders like the kennedys, clinton clintons, and obama. abby says i think it's a great honor for our president to speak where another great president did fighting for the same cause. equality. gregory says president obama always represents us well. and with his beautiful family traveling with him, even better. we want to hear what your thoughts are on the president's speech or anything else. please head to facebook and search "politicsnation" and like us to join the conversation that keeps going long after the show ends. i turned 65 last week. the math of retirement is different today. money has to last longer. i don't want to pour over pie charts all day. i want to travel, and i want the income to do it. ishares incomes etfs. low cost and diversified. find out why nine ou
of anything that harry or the sec did. in a bad economy, madoff's lies simply collapsed under their own weight. >> no one was investigating mr. madoff at the end. >> kroft: so he turned himself in before anybody in a position of authority began a serious investigation? >> that's typically how the sec does it. they come in after the crime has been committed, they toe-tag the victims, count the bodies, and try to figure out who the crooks were after the fact, which does none of us any good. >> stahl: the mastermind of the ponzi scheme of all ponzi schemes, bernard madoff, may be in prison, but he is hardly forgotten. his untidy little business that bilked thousands of people out of billions of dollars is no more, but the big question, "where did all the money go?" remains unanswered. irving picard is the court-appointed trustee assigned to find that money and return as much of it as possible to madoff's investors. it's a daunting and thankless task, for while he's suing whoever he can on behalf of the victims, he's also suing many of the victims, those, who he says, benefitted and should have kn
the population is in decline, and the gaming industry is in desperate shape, but the slowing economy didn't stop wynn from opening his most opulent casino-resort yet, the encore. charlie rose, who has known steve wynn both personally and professionally for about 15 years, was on hand during encore's opening night back in 2008. >> if all of our customers and friends are at the tables, gentlemen and ladies, place your bets. let the games begin. [cheers and applause] >> at 67, steve wynn is a legend in las vegas... >> if you're gonna start a gambling joint, start a gambling joint. >> the man with the midas touch who added glamour to the gambling industry. >> isn't this fun? >> it's perfect. >> even in this recession, thousands came to try their luck at his new casino. >> that's what i'm talking about! >> whoo! >> encore cost nearly $2.3 billion, a risky bet in a bad economy. why, in this economic environment, would you open a hotel? >> well, i'll tell you right now that if i had any idea this-- i wouldn't, if i had a choice, but this project was started four years ago. these things have a huge lead
. >> and, by the way, economy, an economy that's -- >> and the economy. >> all right, we'll wait and see on that one. it's not quite back yet. >> just ahead, was celebrity tv chef nigella lawson publicly choked by her husband? and why some families worry about the bread their eating and why wheat farmers are worried about losing money. it's monday, a brand new start. with centurylink visionary cloud infrastructure, and custom communications solutions, your business is more reliable, secure, and agile. we kw it's your videoconference of the day. hi! hi, buddy! that's why the free wifi and hot breakfast are something to smile about. book a great getaway now and feel the hamptonality >>> questions are swirling about the marriage of celebrity chef nigella lawson after pictures surfaced of her husband with his hand around her neck at a restaurant. her husband is denying any claims he attacked her. cnn's international correspondent matthew chance is in london with the latest. matthew, these pictures just look awful. >> they do. they really illustrate as well, jim, the idea that if you're a cel
on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or p
just start tapering bond purchases. if the economy continues to improve as it has, no one seems to like what bernanke said except the shorts. the dow jones industrials experiencing its seventh straight triple digit move. its ninth 200-. swing in the last 20 days. today falling 206 points. the s&p lost 23, the nasdaq down 40 call volume on the big board picking up to three and a half billion shares a day. gold up $7, closing at $1,374 per ounce. crude oil down $0.20 settling at $98.24 per barrel. in the bond market the yield on the 10-year is soaring to over two and a half%, the highest since march of last year. stocks, bonds to our crude oil all down. gold up a little. quite a day, quite a reaction. here tomorrow, house judiciary committee member joins us. we will discuss whether the attorney general should be charged with perjury. up next, the cbo scores the gang of eight immigration bill, pulling up some interesting numbers. some of which a gang of eight won't be talking about. but we will end the "chalk talk" next. stay with us. ♪ if you've got it, you know how hard it can be to br
is coming from. it is a real issue for the education system, for the economy, for everyone and also politically. mitt romney still got 90% of his votes from whites in a country that is 37% nonwhite now. so jeb bush i think is ringing a gong that his party needs to hear. on the other front, you know, any time you see a hillary clinton sighting it feels like we're heading to iowa soon candy, that brings us to "state of the state the union" this sunday. i assume some of these topics will be coming up. >> yes. we'll be talking to mike rogers, head of the intelligence committee, on the house side will be among our guests. we'll talk about syria and what needs to be done there. also nsa and where we think this is all going. and immigration, which by the way, is on the floor of the senate. they didn't do much this week. it looks a little bit like a hot mess right now. but we'll try to figure out what the future of that bill is. >> all right. candy crowley, we'll be watching this sunday. thank you very much for your time. ron brownstein, thanks to you as well. appreciate it. >>> new jersey
promised to improve iran's wilting economy and reduce unemployment, which topped 15%. in what could be a key overture to the west, he promised to reduce international tensions over iran's nuclear program. the white house says it remains ready to engage with the iranian government directly. >>> it was a violent night in istanbul, turkey. turkish security forces stormed gezi park, using water cannons and tear gas to force antigovernment protesters out of the park and into side streets. and after hours of fighting, we see this, gezi park completely clear and clean. turkish prime minister erdogan says he plans a counterdemonstration today after the antigovernment message that was sparked over the past two weeks. >>> russia is warning the u.s., enforcing a no-fly zone over syria to help rebel forces could violate international law, but the white house has not decided on establishing a no-fly zone, an idea thrown out there by some republicans. president obama's deputy national security adviser says the fighting between rebel forces and the assad regime is so intermingled, it's not a probl
, because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. because vitamin d3 helps bones absorb calcium, caltrate has the highest level of vitamin d3. more than any other brand, to help maximize calcium absorption. so caltrate women can move the world. >>> another new poll from massachusetts shows ed markey there, the congressman making good progress in the special election for the election next tuesday. according to a new poll, markey has an 11-point read over republican gabriella gifford, markey 54, gomez 43. the election is next tuesday. we hope to be up there to cover it. we'll be right back. [ slap! slap! slap! slap! ] ow! ow! [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium-rich tums starts working so fast you'll forget you had heartburn. ♪ tum tum tum tum tums [ male
. in particular, he credits president putin for modernizing the russian economy. an added benefit from the attention this story gathered eight years ago was the creation of some patriots fan clubs in russia." joining me now is executive producer of "rachel maddow show," bill wolfe, who is also a former producer at fox sports and espn. no more qualified person to weigh in on this. >> or less, alex. >> okay. so an international incident. >> yeah. >> the bush administration apparently got involved in this anecdote. >> you believe that? >> maybe i will read -- a spokesman for putin today said the ring was clearly a president. what mr. kraft is saying is now weird, said dimitri peskov, a spokesman for putin. "i was standing 20 krmds" -- you have to do the metric conversion. "away from mr. putin and saw and heard how mr. kraft gave this ring as a gift. the russian president does not wear the ring. it is on display at the kremlin's library where all official state gifts are kept." who knew a super bowl ring was worth this much hullabaloo? >> i don't know if there's a picture available on file
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